Been Looking for a Partner

Discussion in 'Business Operations' started by MosquitoGuard Plus, Dec 25, 2007.

  1. MosquitoGuard Plus

    MosquitoGuard Plus LawnSite Member
    from GA
    Posts: 11

    I have been looking to add a partner to my business to really get out of the sole operator status and I can't hire anyone at this point. I placed an ad for an adminstrative background partner to oversee and improve the structure but I got requests from well experienced part-time operators and currently employeed lawn maintenance prospect. I'm now looking at two options. 1st Option is to add that admin and if that is a success I could hire another employee. 2nd Option is add the part-timer/employeed that would go full time and hire the admin. My level of trust with a partner is little but if I want to take that risk what is the best Option I should go.
     
  2. BCFLawnLandscape

    BCFLawnLandscape LawnSite Senior Member
    Posts: 333

    Why is it that you need a partner??? I would stay away from a partner if at all possible. They cut your profits in half!
     
  3. Whitey4

    Whitey4 LawnSite Silver Member
    Posts: 2,448

    Wow.... add a partner just to do admin work? Jimminy Crickets, sounds like you need a part time book keeper, not a partner. No freakin way I add a partner, I have two guys I know that can sub for me (and I for them) when a big job comes up. There is a rule about partners.... only get one if the business will triple in revenues. If it only doubles, now you have to agree on everything and won't make any more $ than you do now. A partner to do the books? Crazy idea.... that not only doesn't increase revenue, it drains it!
     
  4. MosquitoGuard Plus

    MosquitoGuard Plus LawnSite Member
    from GA
    Posts: 11

    Obviously the two comments I got was Lame. The word partner doesnt mean you lose profits or does it spell out 50% ownership. The details of this partnership were not spelled out. Oh and for someone to spell out the all responsibilities of admin is very vague. Partnership can relieve some responsibilities with a person that actually cares about his "investment". Actually partnership are to make more money with fewer mistakes. So if I was looking for a partner I would consider all the details of why I would like one. Actually I figure I could make more money with a person taking more of the burden of overseeing their investment as well as mine.
     
  5. turfquip

    turfquip LawnSite Senior Member
    Posts: 860

    Overseeing your investment is YOUR job as owner/manager. Do you mean you would like someone to buy into your business concept and vision of the future, work for nothing to make it happen?

    Your questions are vague and circuitous...
     
  6. MosquitoGuard Plus

    MosquitoGuard Plus LawnSite Member
    from GA
    Posts: 11

    That is my responsibility as a sole owner so when someone goes into partnership it is the responsibility of both. Work for nothing? They would be investing their time and money into my vision and getting a percentage of that. For some reason I didn't realize I had to spell out the contractual agreement into this partnership. There are many factors involved in it and both parties know and understand what is coming to the table. The benefits are there and both offers have been laid out to both parties. One option is bringing money and clients and the other option is bringing clients, equipment, and experience. We both feel we can do better as a partner because of what we want to achieve. So overseeing my investment means there is a level of trust because I will be overseeing theirs as well as mine. This means there is more than one set of eyes on the prize. So partnership don't mean work for nothing.
     
  7. you just way to smart for us, seems you have it all figured out already.
     
  8. MosquitoGuard Plus

    MosquitoGuard Plus LawnSite Member
    from GA
    Posts: 11

    The question was never to decide should or shouldnt i go into partnership. I was a choice of what would make sense but right now Im getting questions on the agreement. The parties are happy with the agreement so thats not an issue.
     
  9. MosquitoGuard Plus

    MosquitoGuard Plus LawnSite Member
    from GA
    Posts: 11

    All I need JB1 was an answer to a question but as you can see it has taken a different route. Even your comment means you hadn't read the initial question.

     
  10. shane mapes

    shane mapes LawnSite Senior Member
    Posts: 537

    the answers your looking for , i don't think you will find on this site. the answers you are looking for you have them , and everybody on here does't know the whole story so it is best left up to you to figure out without getting an gray over the comments on here to help you... good luck...
     

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